Bakers’ record results highlights power of the City

The world’s first global law firm Baker & McKenzie has today confirmed its position as also the largest, posting a $2.54bn revenue for the 2013/14 financial year to 30 June.

While the 5 per cent revenue uptick will of course be welcome, as will the corresponding growth in total lawyers from 4,087 to 4,245 and the increase in total headcount to 10,986, what is likely to get the Bakers’ partners’ pulses racing most is the 35 global panels to which it was appointed last year.

Around a third of these are London centric clients, reinforcing the importance of Bakers’ largest office to the rest of its network.

As the firm’s chairman Eduardo Leite put it, “London can make a big difference for rest of firm because it creates work for the rest of the firm at large”.

This October Bakers will hold its firmwide partners meeting in London, it’s not hard to see why. Time to move its HQ to the UK?

Also on TheLawyer.com:

Featured Briefings
Employment: Pillsbury Winthrop Shaw Pittman: Update: final rules clarify New York City employers’ sick leave obligations
Litigation: Schoenherr: Austria: German Supreme Court enacts duty for banks to disclose internal commission payments — but only for future cases
IT: Kemp Little: New FCA recommendations for firms outsourcing IT services
Insurance: Ince & Co: Double trouble for D&O insurers as the UK regulators extend the limitation period applicable to disciplinary investigations
Crime: DLA Piper: Hackers steal 1.2 billion passwords — four steps to take now